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| Author: | Weingartner, H. Gavish, B. |
| Title: | How to settle an estate |
| Journal: | Management Science
1993 : MAY, VOL. 39:5, p. 588-601 |
| Index terms: | TRUSTS ASSETS NEGOTIATION KNAPSACK PROBLEM |
| Language: | eng |
| Abstract: | This paper considers the equitable division of a set of assets, all or some of which are indivisible, among two beneficiaries, simultaneously using several methods of valuing the assets. The problem arises when a fiduciary is required to distribute the assets - of a trust or estate, or to divide the property in a divorce or in dissolution of a partnership - in which the assets have separate market values and tax bases. In other variations of this problem, the beneficiaries are presumed also to possess an infinitely divisible assets, such as cash, or some of the assets may be liquidated. Models for combining consideration of subjective values for the assets in addition to the objective market values are considered. |
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